Eight Twitter finance gurus charged with criminal pump-and-dump scheme

Dec 14 2022 by The Verge

 
Illustration by Alex Castro / The Verge

The US Department of Justice has charged eight online finance influencers with criminal securities fraud for running a $114 million pump-and-dump scheme on their collective 1.5 million Twitter followers.

According to an indictment, members of a Discord-based forum called Atlas Trading used that platform and Twitter to promote stocks they’d purchased in large quantities, making misleading statements about the stocks’ value and their intent...

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